sebi:VSS/AO-200/2009
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Facts / Headnote
Noticee held to have violated PFUTP and Brokers Regulations; total penalty of Rs.50,000 imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 199
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)(a)
- Reg. 4(2)(e)
- Reg. 4(2)(g)
- Reg. 4(2)(b)
Parties
- Sanchay Fincom Ltd
Holding
The Noticee Sanchay Fincom Ltd violated regulations 4(1), 4(2)(a), (b), (e) and (g) of PFUTP Regulations and Clauses A1 to A5 of the Code of Conduct under the Brokers Regulations and was liable to monetary penalty under sections 15HA and 15HB of the SEBI Act.
Full text
Page 2 of 19 Pilot Credit Capital ltd. Sanchay Fincom Bakliwal Financial M/s. Harikishan Hiralal P.J. Chaudhary Navin Patel Vinod Patel Jayesh Kumar Dalsukhabhai
Page 3 of 19 5. It was alleged that one of the broker, viz., Sanchay Fincom Ltd (hereinafter referred to as “Noticee/SFL”) had violated regulations 4 (1), 4 (2) (a), (b), (e) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP”) and 7A (1), (2), (3), (4) and (5) of Code of Conduct for Stock Brokers as specified in Schedule II of SEBI (Stock Brokers and Sub Brokers) Regulations 1992. (hereinafter referred to as “Brokers Regulations”).
Page 4 of 19 9. Show Cause Notice No. EAD-5/VSS/JR/124566/2008 dated May 2, 2008 (hereinafter referred to as “SCN”) was issued to the Noticee under rule 4(1) of the Rules to show cause as to why an inquiry should not be held and penalty be not imposed under section 15HA and 15HB of the SEBI Act for the alleged violation specified in the said SCN.
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Source: SecMarx — sebi:VSS/AO-200/2009. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.